Maestro is a multi-national
debit cardA debit card is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution...
service owned by
MasterCardMastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
, and was founded in 1990. Maestro cards are obtained from associate banks and can be linked to the card holder's current account, or they can be prepaid cards. The cardholder presents the card at the
point of salePoint of sale or checkout is the location where a transaction occurs...
(POS) and this is swiped through the terminal by the assistant or the customer or inserted into a
chip and PINChip and PIN is the brandname adopted by the banking industries in the United Kingdom and Ireland for the rollout of the EMV smartcard payment system for credit, debit and ATM cards.- History :...
device. The payment is authorised by the card issuer to ensure that the cardholder has sufficient funds in their account to make the purchase and the cardholder confirms the payment by either signing the sales receipt or entering their 4 to 6-digit
PINA personal identification number is a secret numeric password shared between a user and a system that can be used to authenticate the user to the system. Typically, the user is required to provide a non-confidential user identifier or token and a confidential PIN to gain access to the system...
.
Within the EU and certain other countries, Maestro is MasterCard's main debit brand and is the equivalent of signature debit card which does not require electronic authorisation, similar to the
Visa DebitVisa Debit is a major debit card issued by Visa in the United Kingdom, the Republic of Ireland and other nations of the European Union. Prior to October 2004, the debit card was known as Visa Delta. Since June 2009, the major banks in the UK have begun issuing Visa Debit. Barclays, Bank of...
card. In most other countries, Maestro is equivalent to a
Visa ElectronVisa Electron is a debit card available across most of the world, with the exception of Canada, Australia, Ireland and the United States. The card was introduced by VISA in the 1980s and is a sister card to the Visa Debit card...
and is MasterCard's tertiary card. It requires electronic authorisation much like a
SoloSolo is a debit card in the United Kingdom. It is a sister to the UK Maestro debit card. Solo was launched on 1 July 1997 by the Switch Card Scheme for use on deposit accounts, as well as by customers who did not qualify for a Maestro card on current accounts.Solo was formerly issued as a...
debit card, i.e. not only must the information stored in either the
chipAn integrated circuit or monolithic integrated circuit is an electronic circuit manufactured by the patterned diffusion of trace elements into the surface of a thin substrate of semiconductor material...
or the magnetic stripe be read, this has to be sent from the Merchant to the issuing bank, the issuing bank then has to respond with an affirmative authorisation. If the information is not read, the issuer will decline the transaction, regardless of any disposable amount on the connected account. This is different from other debit and credit cards, where the information can be entered manually into the terminal (i.e. by punching the 13 to 19 digits and the expiry date on the terminal) and still be approved by the issuer or stand-in processor.
Maestro is accepted at around 11 million point of sale outlets.
Acceptance and availability
- In Germany and Austria, Maestro replaced the Eurocheque
The Eurocheque was a type of cheque used in Europe that was accepted across national borders and which could be written in a variety of currencies....
system. Austrian Maestro cards are virtually always pure Maestro cards. German Maestro cards, however, are in very most cases co-branded with the German Electronic Cash/GirocardGirocard is an interbank network and debit card service connecting virtually all German ATMs and banks. It is based on standards and agreements developed by Central Credit Committee....
logo. These co-branded cards work like normal Maestro cards within the Maestro network and as Girocards within the Girocard network, but they cannot be used as Maestro over the telephone or on the internet.
- In Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
, Maestro cards are co-branded with the Belgian BC/MC-logo (BanContact Mister Cash).
- In the United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, the former SwitchSwitch is a debit card in the United Kingdom. It is a sister to the Solo debit card.Switch was launched in 1988 by Midland Bank, National Westminster Bank and the Royal Bank of Scotland as a multifunction cheque guarantee and cash card. The brand was merged with Maestro, an international debit card...
debit card system has been re-branded as Maestro and now uses chip and PIN technology. It is still operated by S2 Card Services Ltd. under licence from MasterCard. An advertising campaign labels the system as "The new cash". Underneath the branding, however, the system is still the old Switch one and the cards are still fundamentally Switch. For this reason, some visitors from outside the UK may find their Maestro cards declined in shops. As another holdover, certain cards carry an issue number, and their card number as quoted on online card payments actually consists of a 4 digit prefix followed by the sort code and account number of the linked current account. The issue number exists in this situation as the card number itself cannot be changed in the event of the card being lost or stolen, but the issue number can be incremented to differentiate between the new card and old card. In January 2009 First DirectFirst Direct is a telephone and internet-based retail bank in the United Kingdom, a division of HSBC Bank plc. First Direct has headquarters in Leeds, West Yorkshire, England, and has 1.16 million customers....
and HSBCHSBC Bank may refer to any one of the following principal local banks for HSBC Group:- Americas :* HSBC Bank Argentina* HSBC Bank Brazil* HSBC Bank Canada* HSBC Bank Chile* HSBC Bank Costa Rica* HSBC Bank El Salvador* HSBC Bank Honduras...
discontinued the use of Maestro card, issuing Visa DebitVisa Debit is a major debit card issued by Visa in the United Kingdom, the Republic of Ireland and other nations of the European Union. Prior to October 2004, the debit card was known as Visa Delta. Since June 2009, the major banks in the UK have begun issuing Visa Debit. Barclays, Bank of...
cards to new customers and a gradual roll-out throughout 2009 to existing customers. In September of the same year, the British arms of the National Australia BankNational Australia Bank is one of the four largest financial institutions in Australia in terms of market capitalisation and customers. NAB is ranked 17th largest bank in the world measured by market capitalisation...
, being the Clydesdale BankClydesdale Bank is a commercial bank in Scotland, a subsidiary of the National Australia Bank Group. In Scotland, Clydesdale Bank is the third largest clearing bank, although it also retains a branch network in London and the north of England...
and the Yorkshire BankYorkshire Bank is a commercial bank in England and Wales, a division of Clydesdale Bank, which in turn is a subsidiary of National Australia Bank. It mostly operates in the North of England, especially in Yorkshire. In 2006 underlying profit rose 16.7 per cent to £454 million compared with a...
, started the process of replacing the Maestro card with a Debit MasterCardThe Debit MasterCard is a type of debit card in the United Kingdom, Australia, the United States and other countries. It uses the same systems as the standard MasterCard credit card, but does not use a line of credit to the customer as it is a debit card...
for their current accounts, except for the Readycash and Student accounts, for which the Maestro card continues to be issued. Likewise, in the same month the Royal Bank of Scotland GroupThe Royal Bank of Scotland Group is a British banking and insurance holding company in which the UK Government holds an 84% stake. This stake is held and managed through UK Financial Investments Limited, whose voting rights are limited to 75% in order for the bank to retain its listing on the...
(Europe's largest debit card issuer which includes the NatWest, CouttsCoutts & Co. is one of the UK's private banking houses, now wholly owned by the Royal Bank of Scotland . RBS acquired Coutts and all of its overseas subsidiaries when it bought NatWest. On 1 January 2008, Coutts' international businesses were renamed RBS Coutts, aligning them more closely with...
and Ulster BankUlster Bank is a large commercial bank, one of the Big Four in both Northern Ireland and the Republic of Ireland. The Ulster Bank Group is subdivided into two separate legal entities, Ulster Bank Limited and Ulster Bank Ireland Limited...
brands) switched from Maestro to Visa Debit, a process that will take two years to complete.. This effectively means that practically no UK banks will be issuing Maestro cards, except in Northern Ireland.
- In Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
, most banks issue debit cards that are co-branded with Maestro and the Irish Laser cardLaser Card is a debit card scheme in Ireland. The Laser Scheme is maintained and operated by , a not-for-profit body owned by four leading financial institutions in Ireland and overseen since 2008 by the Oversight Unit of the Central Bank. The scheme was launched in 1996 and in 2010 there were...
logos. These function as a Laser Card in Ireland and as a Maestro card when used abroad, although acceptance is quite patchy. Generally, the Maestro function on these cards only works when they are inserted into a POS terminal. They cannot be used as Maestro over the telephone or on the internet. All Irish debit cards are now issued with Chip and PINChip and PIN is the brandname adopted by the banking industries in the United Kingdom and Ireland for the rollout of the EMV smartcard payment system for credit, debit and ATM cards.- History :...
technology and transactions are normally only authorised by PIN. Most Irish POS terminals now authorise all debit and credit card transactions online, so you cannot spend unauthorised funds.
- In Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
, Maestro has been replaced by the banks that issued it with Debit MasterCardThe Debit MasterCard is a type of debit card in the United Kingdom, Australia, the United States and other countries. It uses the same systems as the standard MasterCard credit card, but does not use a line of credit to the customer as it is a debit card...
. Moreover, the largest Danish bank Danske BankDanske Bank is a Danish bank. The name literally means "Danish Bank" It was founded 5 October 1871 as Den Danske Landmandsbank, Hypothek- og Vexelbank i Kjøbenhavn ....
has replaced all of its cash cards with Debit MasterCards, to the dismay of some customers.
- In the United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, Maestro is a PIN-based debit card network closely related to the CirrusCirrus is a worldwide interbank network operated by MasterCard Worldwide, and was founded in 1986. It links MasterCard, Maestro, Diners Club credit, debit and prepaid cards to a network of over 1,000,000 ATMs in 93 countries....
ATM network, also owned by MasterCard. Like other PIN-debit networks in the U.S., Maestro there relies solely on a standard card and PIN, without a chip; signature-debit transactions in the U.S. are handled through the main MasterCard network or the rival Visa network. RBS's U.S. subsidiary, Citizens Financial GroupCitizens Financial Group, Inc. is an American bank headquartered in Providence, Rhode Island, which operates in the states of Connecticut, Delaware, Illinois, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont. Citizens is a wholly owned...
, also began a switch to Visa, though like most foreign banks with operations in the United StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
it uses MasterCard's CirrusCirrus is a worldwide interbank network operated by MasterCard Worldwide, and was founded in 1986. It links MasterCard, Maestro, Diners Club credit, debit and prepaid cards to a network of over 1,000,000 ATMs in 93 countries....
network and the card participates in the MasterCardMastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
SecureCode initiative.
- In Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, Maestro has acquired the existing Redeshop service and is in the process of rebranding it as Maestro. Brazilian Caixa Econômica FederalCaixa Econômica Federal , also referred to as Caixa or CEF, is a Brazilian bank. It is the largest government-owned financial institution in Latin America. It is the largest bank in Brazil and in Latin America by assets....
is currently the major Maestro issuer in the world, with over 34,000,000 cards issued as October 2006.
- In parts of Latin America
Latin America is a region of the Americas where Romance languages – particularly Spanish and Portuguese, and variably French – are primarily spoken. Latin America has an area of approximately 21,069,500 km² , almost 3.9% of the Earth's surface or 14.1% of its land surface area...
, Maestro is known as MasterCardMastercard Incorporated or MasterCard Worldwide is an American multinational financial services corporation with its headquarters in the MasterCard International Global Headquarters, Purchase, Harrison, New York, United States...
MaestroMaestro is a title of extreme respect given to a master musician. The term is most commonly used in the context of Western classical music and opera. This is associated with the ubiquitous use of Italian vocabulary for classical music terms...
, as the brand name is not as widespread as in EuropeEurope is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
.
- In Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
, Maestro is part of the EFTPOSEFTPOS is the general term used for debit card based systems used for processing transactions through terminals at points of sale. In Australia and New Zealand it is also the brand name of the specific system used for such payments...
program and is issued by all banks in Australia.
- In Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
, Maestro is the card used by the Banco de la Nacion ArgentinaBanco de la Nación Argentina is a state-owned bank in Argentina, and the largest in the country's banking sector.-Overview:The bank was founded on October 18, 1891, by President Carlos Pellegrini by way of stabilizing the nation's finances following the Panic of 1890; its first director was...
and other banks, mostly state-run or provincial banks.
- In Venezuela
Venezuela , officially called the Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It borders Colombia to the west, Guyana to the east, and Brazil to the south...
, Maestro is the leading debit card, issued by almost all major banks in the country. It is widely accepted in POS. It works on all ATMs showing the Suiche7B, Conexus and CirrusCirrus is a worldwide interbank network operated by MasterCard Worldwide, and was founded in 1986. It links MasterCard, Maestro, Diners Club credit, debit and prepaid cards to a network of over 1,000,000 ATMs in 93 countries....
logos.
- In India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, Maestro is the leading PIN debit card in terms of circulation. It is the debit card of choice for almost all major banks, except ICICI BankICICI Bank Ltd. is India's second largest financial services company headquartered in Mumbai, India. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of...
. Maestro issuing banks include the State Bank of IndiaThe State Bank of India is the largest Indian banking and financial services company with its headquarters in Mumbai, India. It is state-owned. The bank traces its ancestry to British India, through the Imperial Bank of India, to the founding in 1806 of the Bank of Calcutta, making it the oldest...
(India's largest bank), State Bank's affiliate banks, Punjab National BankPunjab National Bank , was founded in 1894 and is currently the second largest state-owned commercial bank in India ahead of Bank of Baroda with about 5000 branches across 764 cities. It serves over 37 million customers. The bank has been ranked 248th biggest bank in the world by the Bankers...
, Oriental Bank of CommerceOriental Bank of Commerce is an India-based bank in Lahore , is one of the public sector banks in India...
, Bank of Rajasthan, etc.
- In Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
, Maestro Cards cannot be used at point of sales locations to make purchases but the CirrusCirrus is a worldwide interbank network operated by MasterCard Worldwide, and was founded in 1986. It links MasterCard, Maestro, Diners Club credit, debit and prepaid cards to a network of over 1,000,000 ATMs in 93 countries....
network is accepted at a majority of cash points most of the time. The exception is the 'First International Bank of Israel' (FIBI) who do not accept CirrusCirrus is a worldwide interbank network operated by MasterCard Worldwide, and was founded in 1986. It links MasterCard, Maestro, Diners Club credit, debit and prepaid cards to a network of over 1,000,000 ATMs in 93 countries....
.
- In Sri Lanka
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka is a country off the southern coast of the Indian subcontinent. Known until 1972 as Ceylon , Sri Lanka is an island surrounded by the Indian Ocean, the Gulf of Mannar and the Palk Strait, and lies in the vicinity of India and the...
, Nations Trust Bank (NTB) issues all its customers with a ATM card, which also doubles as a Debit Card as well it being accepted at other Cirrus ATMs locally and internationally
- In China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, Bank of ChinaBank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...
uses Maestro as its "international" debit card system. Also, certain Bank of China ATMs will present the user with Japanese or Korean language options upon insertion of a Maestro card.
- In Romania
Romania is a country located at the crossroads of Central and Southeastern Europe, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea...
Maestro is a popular debit card (the third one after Visa Electron and MasterCard Standard Debit), is still the main debit card issued by 4 banks: Unicredit-Tiriac Bank, Intesa SanPaolo, Garanti Bank and RIB, another 6 banks are issuing Maestro as a secondary debit card, these are: BCR, BRD, Raiffeisen, Bancpost, Carpatica and Emporiki.
External links